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NCA to Auction Oil, Gas Leases

More than 2,000 acres of Oklahoma oil, gas leases are scheduled for bankruptcy auction on Feb. 5.National Commercial Auctioneers LLC is selling at a bankruptcy auction multiple oil and gas leases covering more than 2,000 acres in Creek, Wagoner, Tulsa, Muskogee and Okmulgee counties.The leases produce about 17 barrels of oil daily from 16 wells. The sale includes the leases and all of the equipment associated with each lease on the properties. Offered separately will be various equipment, including a single-pole well pulling unit, fullyequipped wand capable of operating to depths of 3,600 feet.“With the right operator with adequate capital, certain extraction techniques could be used to enhance the production of these wells and create even more income and value for the new owner,” said Stephen Karbelk, president of NCA and the court-appointed auctioneer. “In addition to the 16 wells, there are three additional wells working or scheduled for operations, anticipating another three to five barrels a day.The oil and gas leases are assets in the Bobby Rowe Energy Inc. and StephenRowe Oil Properties LLC Chapter 11 Bankruptcy Cases. The company is owned andoperated by Stephen Rowe, the grandson of the company founder, the late Robert W. Rowe. The company launched in 1946 and grew to be one of the Top 400 oil and gas companies in the late 1980s.